qualified plan

(redirected from Tax Qualified Plans)

Qualified Plan

An annuity that one buys along with one's employer. That is, the annuitant and his/her employer both make tax-deferred contributions to the plan for a certain period, with withdrawals coming upon retirement. If the annuitant begins withdrawals before a certain age, withdrawal penalties apply. One may continue to make contributions until a certain age, usually around 65.

qualified plan

An employer-sponsored tax-deferred employee benefit plan that meets the standards of the Internal Revenue Code of 1954 and that qualifies for favorable tax treatment. Contributions by an employer and an employee accumulate without being taxed until payouts are made at the employee's retirement or termination.
References in periodicals archive ?
She represents large public and privately held companies in a broad array of employee benefits and executive compensation matters including tax qualified plans, employee health and welfare plans, severance arrangements and non-qualified deferred compensation.
One solution is to take advantage of the in-service distribution rules applicable to certain tax qualified plans.
The IRS consolidated four correction programs for tax qualified plans into a single Employee Plans Compliance Resolution System (EPCRS).
The unintended consequence of this would be to create "churning" in the market by encouraging consumers to drop their pre-HIPAA coverage and buy post-HIPAA tax qualified plans, at their current age, which would likely cost more.
He will specialize in healthcare plan design, tax qualified plans, pension plan structuring and compensation agreements.
Following the enactment of ERISA, which imposed more stringent rules on tax qualified plans, the plan was amended a number of times; however, the plan did not request a new IRS determination letter until 1984.
The CalPERS Long-Term Care Program offers tax qualified plans.
Pursuant to OTS regulations, the common stock is being offered for sale in a subscription offering, in the following order of priority: 1) First Niagara Bank's depositors with $50 or more on deposit at June 30, 2001; 2) First Niagara Financial Group's tax qualified plans, including the Employee Stock Ownership Plan and 401(k) Plan; 3) depositors with $50 or more on deposit at September 30, 2002, and 4) depositors at November 10, 2002.